New Hampshire Couple Battling Foreclosure Rescue Operator Over Home

A Manchester, New Hampshire couple with five young children is currently engaged in two court battles with MAK Investments, a local foreclosure rescue operator, over title and possession of the couple's home, according to a story on the Concord Monitor Online, at concordmonitor.com.

Further, the New Hampshire Banking Department issued a cease-and-desist order to the company last summer, in which it claims that MAK's lending practices violate state banking laws. The Department's staff attorney handling the case also asserts that MAK has used unethical business practices, like changing the terms of loans discussed verbally with homeowners when it comes time to sign the paperwork.

In investigating the company, the state found that over 10 homeowners facing foreclosure have lost their homes to MAK. A March hearing is scheduled where fines could be issued, restitution could be ordered and, in a few of the cases, homeowners might be able to get their homes back, according to a state spokesman. The state is also reportedly investigating two other companies for engaging in similar foreclosure rescue practices. For the whole story, see

Predatory lenders
(A growing fear of foreclosure has led many to lose their property to mortgage 'rescuers')
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